In The News

A Great Program for Your Finances

Published March 04, 2010
Associated Content – Business and Finance
by: Sophie Walton

A Great Program for Your Finances

While trying to do some research on Weight Watchers, I accidentally misspelled “weight” and ended up at a website for Wealth Watchers. I thought, “Well this might be something worth checking out because I could always use an extra buck or two.” What I discovered was interesting enough for me to purchase the book and check into setting up a group at my church.

Wealth Watchers was founded in 2005 by Alice Wood after she experienced an injury that left her unable to manage her money and in debt. She structured Wealth Watchers based on principals she learned from her Weight Watchers meetings – – daily journaling and group accountability. Alice wrote a book about her experience entitled Wealth Watchers to help others learn from her experience, overcome their debt and learn to spend less than their net income.

The core to the Wealth Watchers program is calculating your Daily Disposable Income (DDI). After calculating your DDI, you will learn the exact amount you may spend each day without going into debt. Once you learn how to calculate your DDI, you will begin to see how your daily spending can help you save for larger purchases or is a detriment to your finances. Controlling your daily budget will help you learn better spending habits that will, day by day, help you reach your financial goals. Wealth Watchers was used as part of the “McDonald’s Practical Money Skills” program a financial literacy program for employees.

Wealth Watchers has programs designed for corporations, educators, faith-based and community groups. Each program will use the power of daily journaling and group accountability, much like that of Weight Watchers, to educate members about budgets and build lasting skills that will help members reach their individual financial goals. You can request information and rates online at Wealth Watchers website.

On their website are also several savings calculators that will help you in your quest to conquer the budget demons you face. Rework you budget, find out what the true cost of credit will be or plan for retirement with these calculators. There are also calculators to help you save for a goal, calculate an auto loan or compound interest for saving money. Each of these tools alone will help you with finances; however, when they are combined with the powerful information in Wealth Watchers anyone can learn how to reach their financial goals.

Wealth Watchers is available at most bookstores and online at Simon & Schuster for only $19.95 (also available in Digital eBook).